An early Ethereum accumulator holding 154,076 ETH—acquired at an average cost of $517—has been systematically offloading positions. Over a 48-hour window, this wallet transferred 40,251 ETH (worth approximately $124 million) to Bitstamp, leaving 26,000 ETH still held. This sustained exit strategy raises important questions for market observers: Is the whale locking in gains from years of accumulation? Does the timing signal concerns about price levels? What does this supply pressure mean for ETH's near-term dynamics? Understanding such large holder movements provides crucial context for interpreting market sentiment and potential directional cues.